It’s no secret that the Australian job market is in a squeeze. While persistent vacancies and widespread talent shortages continue to place increasing pressure on employers, for job seekers, the current market presents a rare advantage. Job seekers now have the upper hand when it comes to negotiating for higher wages, greater flexibility and more benefits, not to mention a wider range of job offers to choose from.
The challenge for employers, therefore, is not only to attract stellar candidates but to maintain a competitive edge when it comes to sealing the deal. In order to snap up a high-quality hire, employers need to be increasingly flexible, fast, and willing to negotiate.
But what does the right person look like? A candidate with a keen understanding of your industry and organisation will be an obvious stand-out, but don’t overlook someone with complementary or transferrable skills who may bring a fresh perspective. Someone with a background in teaching may be skilled in leadership, organisation and empathy, in the same way someone with a background in journalism will likely excel in research, planning and written communication. When reviewing applications, consider the candidate’s background and skill set and look for transferable skills that could benefit your business.
The same can be said for hard versus soft skills. While hard skills — that is, technical knowledge or training — are necessary for successfully performing any role, employers should view soft skills as equally important and valuable. Unlike hard skills, soft skills like resilience, empathy, persistence, creativity, and emotional intelligence are considerably more difficult to teach, yet can have a significant impact on an employee’s performance and team cohesion.
In fact, according to Indeed’s recent Graduate Outcomes research, a growing number of employers are prioritising soft skills over hard skills, likely in response to the challenges of the pandemic. The survey found that in 2021, over one third (35 per cent) of employers said they’re now searching for recruits who are hardworking, productive, professional, organised and reliable, compared with just 23 per cent of employers prioritising these traits in 2020.
Similarly, when it comes to company culture, consider hiring a culture add rather than a culture fit. A culture fit is someone who fits in with your organisation’s existing culture, while a culture add is someone who brings with them valuable elements that your culture lacks – whether that’s a different skillset or a different way of thinking. In other words, where a culture fit preserves familiarity and enables cohesion, a culture add brings something different that contributes positively to your company, making them a valuable addition.
During the recruitment process, be mindful of your approach. Recent research by Indeed explored job seekers’ and employers’ biggest pet peeves when it comes to recruitment and found that the majority of job seekers (66 per cent) are put off when interviewers are rude, distracted or disinterested during interviews, and an additional 40 per cent hate being asked personal questions.
While it might go without saying, employers should remember to be enthusiastic, engaged, respectful and professional throughout the recruitment process, recognising that in many cases, you’ll be the candidate’s first taste of the organisation and its culture, so you’ll want to make a positive, lasting impression.
It’s also vital to remain open and transparent throughout the interview and recruitment process, particularly around things like salary, benefits and the requirements of the role. Indeed’s research found that over half (54 per cent) of respondents say encountering discrepancies between the role described in a job ad and what is mentioned in the interview could make them discount a job opportunity, while 65 per cent want to know their salary, flexible working options (56 per cent) and non-salary benefits (21 per cent). It’s also important to ensure you’re able to speak honestly and positively about your organisation’s culture and values, as 38 per cent of job seekers want a role that aligns with their personal values and provides a sense of fulfilment and purpose.
Finally, it’s crucial to ensure you’re communicating with candidates openly and frequently throughout the recruitment process and minimising as many complex or unnecessary interview steps as possible. Indeed’s survey revealed 50 per cent of job seekers are put off by too many interview or pre-interview steps, and 55 per cent want more regular communication and feedback throughout the interview process. For this reason, it’s a good idea to review your organisation’s recruitment processes and consider how these could be streamlined – particularly in the current market, where an efficient recruitment process could be the difference between quickly locking in a stellar candidate or having them snapped up by a competitor.
When you think you’ve found the right person, you’ll want to act quickly and let them know they’ve been successful. As soon as you’ve made your decision, waste no time in reaching out and making an offer – and the more competitive the better, however don’t play all your cards at once.
Remember, job seekers have the upper hand in the current market, which means there’s a good chance your candidate has other opportunities or offers to consider. If you’re confident they’re the right person for the role, be willing to negotiate. Be clear on what you’re able to offer in terms of salary and benefits but remember to sell the organisation and the opportunity too and highlight the positive attributes that differentiate your business from competitors.
Most importantly, ensure this process is as efficient and streamlined as possible. Opt for phone or Zoom calls over in-person meetings where possible – a matter of hours could be the difference in securing a great asset or missing out.
The reality is that in a job seekers’ market, it’s employers – not just candidates – who need to be prepared to put their best foot forward. To avoid missing out on a stand-out hire, you must be willing to review your approach; be flexible, broaden your search and don’t be afraid to recruit outside the box, and be prepared to speak to your organisation’s culture and values, not just the requirements of the role. This approach will allow your business to remain competitive and attractive in an increasingly crowded market and find the right hire for your team.
Kate Furey is Indeed’s Career Insights Specialist and APAC Corporate Affairs Director. Kate has a dynamic global background in communications, marketing and journalism. Kate’s passion lies in helping people find jobs they love.